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Home prices rise in Twin Cities

by Annie Baxter, Minnesota Public Radio

ST. PAUL, Minn. — Twin Cities home prices posted healthy gains in November, according to the latest Standard & Poor's Case-Shiller home price index.

Home prices in the Twin Cities were up 11 percent from the same period a year earlier. The broader 20-city index had a smaller, though still significant, increase of 5.5 percent over the year.

The housing sector is "clearly recovering," according to David Blitzer, chairman of the Standard & Poor's Index committee. He notes that new and existing home sales are improving and "contributing to economic growth."

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